Sold by: C2L BIZ Solutions
SymbioSys Distribution Management
Overview
SymbioSys Distribution Management as a Service is a unified service to manage registrations, various types hierarchies, agent movements, performance, persistency, advisor classifications and rating, incentives, contests, campaigns, compensation and Finance for multiple distribution channels like captive agency, Bancassurance, brokers, IFA etc. across various Lines of Business like Life, Group Life, Health, Property and Casualty.
It provides a lot of power and flexibility to drive your business strategies based on the priority like pay commission on daily basis frequency as desired by business, offer incentives for digital sales, segment based compensation rules, newly evolving distribution channels etc.
SymbioSys Distribution Management has configured more than 1000 unique rules for various KPIs, performance and compensations across its 17 implementations.
It has processed over 2 million payees across channels.
It has enabled insurers to launch new channel partner in less than 5 days.
SymbioSys Distribution Management is designed for global insurance distribution needs and is proven with unique capabilities like -
Hierarchy Management
- Manage all possible types of hierarchies reporting, monitoring, geographical, recruitment etc as per your designations with absolutely no restrictions for contract management, regulatory rules, license managements and payment credentials.
- Empower senior team to digitally onboarding new advisors along with capabilities to automate all types of movements of advisors and portfolio based on your own rules.
Performance management
- Create & monitor various types of KPIs based on inputs from Policy, Premium, Commission, Agent, lead, and activity but also for various unique KPIs based on different types of Persistency, hierarchy, segmentation rules.
- Leverage Balanced Score Card approach for performance tracking and rewarding to ensure that your performance is tracked and aligned to business goals.
- Do not treat all agents alike, but reward your high performing agents based on the true value to your organization.
Compensation management
- Reduce time and cost of administering diverse types of compensations without compromising on accuracy.
- Dynamic Rule engine driven compensation computation for faster adaptation to emerging types of compensations, payouts.
- Ensure that the compensations are working and truly helping you in achieving the business objectives.
- Reduced risk of compliance failures that have entered into the organization due to the siloes and manual interventions and truly automate the same.
Finance Management
- Automate the ability to create a bank file for payments ready with all local taxations, rules, and schedules of choices.
- Effectively improve your ability to track, control and administer adjustments, write offs, payments hold and release systemically with minimal manual interventions.
Handshake seamlessly with digital ecosystem with ready real time API interfaces. All of this comes with multi lingual and multi currency support.
Highlights
- n Tier & Parallel Hierarchies, All kinds of commissions and incentives, Differentiated Commissions at agent level, Simulation,
- Configuration Based setups and operations
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Pricing
Pricing is based on the duration and terms of your contract with the vendor, and additional usage. You pay upfront or in installments according to your contract terms with the vendor. This entitles you to a specified quantity of use for the contract duration. Usage-based pricing is in effect for overages or additional usage not covered in the contract. These charges are applied on top of the contract price. If you choose not to renew or replace your contract before the contract end date, access to your entitlements will expire.
Additional AWS infrastructure costs may apply. Use the AWS Pricing Calculator to estimate your infrastructure costs.
Dimension | Description | Cost/month |
|---|---|---|
Initial Setup Fees | Initial Setup Fees for the number of months of implementation | $18,970.00 |
Subscription Fees GoLive | Subscription Fees - Post Go-Live | $11,092.00 |
Dimension | Cost/unit |
|---|---|
One Time Upfront Fees | $50,000.00 |
Dimensions summary
This contract pricing splits into three separate charges that apply at different stages. You pay One Time Upfront Fees at the start as a single charge. You pay Initial Setup Fees to cover the number of months of implementation, so this scales with how long setup takes. After the system goes live, you pay Subscription Fees GoLive for ongoing use. The three dimensions stack rather than replace each other. Together they cover the move from initial purchase, through implementation, and into live operation of the distribution management service.
Top-of-mind questions for buyers
You pay Initial Setup Fees based on the number of months your implementation takes. The charge scales with implementation duration. A longer setup period means more months are billed under this dimension. This charge covers the work to configure and deploy the service before it goes live.
All three charges apply at different stages and add together rather than replace each other. You pay One Time Upfront Fees once at purchase. Initial Setup Fees cover implementation months. Subscription Fees GoLive apply after the system goes live for ongoing use. Each is billed independently.
This charge covers ongoing use of the distribution management service once it is live. The service manages registration, hierarchies, agent movements, performance, incentives, contests, compensation, and finance across distribution channels. You pay this fee for continued operation after implementation ends.
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Sumanas Kar - +919920378416
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